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<p>The price of Avalanche’s AVAX token has seen significant gains today, trading up over 10% to around $35.8. Crypto market analysts have pointed to technical signals that could indicate further upside for the asset.</p> 
<p><strong>Breaking Out of Descending Channel</strong></p> 
<p><a href="https://twitter.com/WorldOfCharts1/status/1751453543305986526?t=CVQ5AbV6hSg6OTw4X1PIjg&amp;s=19" target="_blank" rel="nofollow">Cryptocurrency trader “World of Charts” </a>noted on Twitter that AVAX is “Breaking Descending Channel In H4 Tf.” This refers to AVAX breaking out above a downward sloping price channel on the 4-hour time frame chart. “World of Charts” believes that if this breakout holds, it would confirm a bullish wave targeting $50.</p> 
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<p><strong>Repeat of Previous 300% Surge Possible</strong></p> 
<p>Another market analyst using the handle<a href="https://twitter.com/JavonTM1/status/1751605002898968808" target="_blank" rel="nofollow"> “JAVONMARKS”</a> also sees potential for an extended AVAX price surge. “Prices look to be starting to heat up again and the recent pullback may have only added strength,” he tweeted.</p>  
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<p>“JAVONMARKS” sees a technical pattern that could support a 3x gain from current levels, which would match the over +300% surge AVAX saw previously. Hitting his upside target of $121 would require a further 234% advance. With crypto assets often seeing dramatic price moves, he believes this feat could be “more than feasible.”</p> 
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<p>So in summary, technical signals on the charts along with bullish analyst sentiment seem to be driving renewed upside momentum for AVAX as of today.</p> 
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<p>The post <a href="https://captainaltcoin.com/why-is-avalanche-avax-price-up/">Why Is Avalanche (AVAX) Price Up?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Is Avalanche (AVAX) Price Up?

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